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Africa seeks super banker to manage new economic frontier

Nigerian Agriculture Minister and candidate for next president of the African Development Bank, Akinwumi Adesina, talks to the media in Paris on March 25, 2015Eight candidates are vying to become the next head of the strategic African Development Bank as the continent is undergoing an economic transformation. With 80 ADB shareholders — 54 African states and 26 non-African countries — set to vote on Thursday, it is difficult to predict who will succeed Rwandan Donald Kaberuka, bank chief for two consecutive terms since 2005. The new super banker will take over an ADB seeking to diversify beyond its traditional role as a development bank, which lends money for major projects — a total of $6.8 billion for 317 operations in 2013.

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